Switching on to solar panels for your electricity needs and getting them installed is as thrilling as getting your house renovated. However, unlike other home improvement expenses, the amount you spend on adding solar panels to your home will payback for itself over the period of time, as well as help you save. Let see, how adding solar panels to your home will be a wise investment.
How much will you save?
The amount that you save completely depends on the location of your home, availability of solar resource and the type of solar panels you select. Besides, your savings also depend on factors like how you pay for the system, for how long it will be used, etc.
In some cases, using solar power will reduce the electricity bill around 10 to 50 percent. Generally, the system costs around $10,000 to $30,000 including the federal tax credit. Also, depending on the size of your system, your initial cost will vary. Keeping all these factors in mind, it is estimated that for regular homes, monthly electric saving will be around $100 to $200. This means, the homeowner can recover the investment within 5 to 10 years and keep on saving in future as well.
How you pay matters a lot
Once you have decided to get a solar power system for your home, the next step is to understand that it is a big investment. You will have to find best Orange County solar power system provider to ensure that you are getting a system worth the money you pay. If you are not able to pay for the system in cash, there are certainly other financing options too.
Purchase a system on loan
If you purchase a system on loan, then it will take longer to recover your investment. However, the calculations show that you still end up saving in long run. Furthermore, your property’s value increases as soon as you get a solar power system.
Lease the system
You can choose to lease the system and pay fixed monthly amount for using it. In this case, you will save better, since most of the lease includes maintenance of system. However, you cannot get a tax rebate, since you don’t own the system.
Well, looks like the answer to the question of whether to get a solar power system or not should be a big yes. No matter where you live, how much electricity you use or how you pay, as per the calculations, you always end up saving.
No better time than now
Nowadays, switching to solar power system makes sense for everyone. Well, solar power systems have always been in demand as well as expensive, but, fortunately, their prices have gown down in the past few years. It is estimated that the systems, which cost around $21,400 will now cost around $15,000. This favorable price fluctuation gives home owners an opportunity to grab a solar power system at amazing prices.
Lastly, research the market well. Get quotes from different providers and discuss every detail about the warranty and guarantee they offer.